Which bank in Ghana is good for savings?

Which bank in Ghana is good for savings? wondering which bank in Ghana is good for savings, perhep you have money that you want to keep for future use and want to keep it at the bank. please follow carefully to know which bank is to save with.

Which bank in Ghana is good for savings?

Ghana has numerous good trustworthy banks and an interest that is generally great — while not all banks in Ghana offer great interest rates for their savings account. Saving in Ghana is an option that is great as a result, as while inflation is high the savings deposit rate you can get at many of the banking institutions we mention below is somewhat higher than the typical inflation price in Ghana.

We’d say before you could possibly get a fresh task if you reside in Ghana you ought to try to conserve around 12,000 – 40,000 Cedi at the very least prior to starting your business or investing in property or equities (shares), as having 12,000 – 40,000 Cedi should protect a couple of month’s of your expenses when your business battles or you lose your work and require money for the time being. 12,000 if you’re wealthier if you live modestly, 40,000.

Our Favorite Account Overall: ABSA’s Savings Account

This is the account we’d say is most beneficial for many people — one to subscribe to the account online, and has excellent protected monetary conditions as it possesses a great interest rate (2nd highest in most of Ghana presently) at 11per cent or more each year, has great mobile/digital banking features, allows. In addition, they offer relatively credit that is decent and loans that are doable to have when you have a checking account using them.

The disadvantage that is this account may be the company is owned by Barclays South Africa, and South Africa generally speaking isn’t doing the very best presently, helping to make the parent company a little less reliable and experienced in the banking sector in Ghana. As a result of the moms and dad company having their divisions that can be local, we don’t believe this will make ABSA’s accounts any riskier than other banks though.


Overall this might be our individual choice for family savings in Ghana, with your second favourite Zenith that has been Bank. We prefer ABSA simply because this has better services that are electronic a somewhat greater interest, along with within our experience better-trained employees/bankers in real areas.

Perfect for the Highest Interest Rate: OmniBank’s Savings Account

It— historically they seem to also have the best rate of interest of any bank in Ghana, currently around 12% – 13%, however physically we do not have experience with this bank unlike the other banking institutions on this list if you’re going for the positively greatest rate of interest OmniBank provides.  This suggests that is we’d start an account using them asking around and seeing if people have had good experiences with this bank in your area.

From people we all know, they say this bank is great and trustworthy, however, it is less advanced in terms of technology (online platforms certainly are a little outdated/sloppy-looking), and their real branches/locations aren’t spread throughout all of Ghana, and on occasion, even every one of Accra — which makes it quite difficult to often go deposit money in the account should you not have an automobile that is reliable can travel many kilometres to one of the places.

Overall we’d state do a little homework (research) before opening this account even as we can’t confidently recommend the bank even as we don’t have individual experience or inside familiarity with this bank’s operations if you prefer the highest rate of interest available. Its owned and operated exclusively in Ghana, however, isn’t as large or clear as other banking institutions in Ghana, which explains why we can’t actually attest to the bank’s safety and sustainability.

Personally, we’d opt for Zenith Bank or ABSA (Barclays Africa) rather than this account, whilst the interest rate they feature is just slightly below Omnibank’s.

Most readily useful Savings Accounts for Foreign Currencies: SC’s Saving Account

Then this might be most likely going to be the most effective account for you — it’d definitely be our choice if you would like to save in currencies apart from Cedi.

We’d say Standard Charter’s Savings Account is the best for foreign exchange as that is really their speciality being a bank that is multi-national.  Rates of interest remain 1% to 3.5% for most currencies which are foreign however some are slightly lower — but remember these prices are lower than other banks talked about right here as they’re in different currencies. Cedi deposits provide greater rates of interest whilst the inflation prices are greater.

Overall we’d say most people in Ghana shouldn’t save themselves in forex, as saving in money that your particular costs aren’t in is very risky you destroyed your task if you end up requiring the cost savings because your online business income decreases or.

A standard Account that is great: Zenith Bank’s Savings Account

Zenith bank is amongst the banks that are top Ghana, and nearly completely does company in Ghana — making that one associated with best banks to keep your cash in.

There are no real downsides to Zenith Bank, they’ve one of the rates of interest being greatest in every of Ghana (around 10% each year), has a lot of places through Ghana, doesn’t have any ridiculous hidden fees or high account minimums, or really any such thing wrong.

We’d say if you do make use of their checking account only save in Cedi, as their foreign currency account just is not really competitive when compared with Standard Charter’s foreign exchange account that is saving. General Zenith has a pretty decent software that is mobile an excellent interest rate, and generally give a safe place for the cash, it’s certainly one of our favourite reports to be quite honest.

Unfortunately, you should do so in a physical branch (location), which are generally just in medium-large size towns and cities in Ghana if you wish to open the account.

Perfect for Rural Areas: GCB Bank’s Savings Account

We aren’t a big fan of GCB, nonetheless, other bank’s mentioned in this essay are merely obtainable in larger cities, so this is the most useful bank in our viewpoint that’s available in most smaller cities if you fail to visit. We’d avoid a community that is small as there’s still quite a bit of corruption and dubious financing techniques generally in most of those. It is just safer to stay having a bigger bank, such as GCB.

On to the account — GCB’s family savings has an interest of around 6% today, which is one of many cheapest of some of the banks we talked about right here, nevertheless it’s still a lot better than nothing and much better than many banks which can be tiny Ghana. Apart from the interest price, there are no major drawbacks for this account, it is possible to open it with a quantity that is modest of and there are areas throughout Ghana.

Overall we’d avoid banking with GCB since the rate of interest they provide is not as effective as other banking institutions, and actually, we just have actually had very experiences that are good for them as being a bank. Nonetheless, then we might say you’re still well off with GCB in most cases if among the other banking institutions talked about in this essay aren’t for sale in your area/town.

A Decent that is general Account: Stanbic Bank’s PureSave Account

We made a decision to add this account as whilst the interest is relatively low at only 7% a year (about average for banking institutions in Ghana) they do have quite credit that is great and loan choices compared to other banks in Ghana. They’re quite hard to get, however, so then it may be well worth starting your family savings with Stanbic as they’ll be a lot more likely to accept your applications for the loan or charge card using them in the event that you might be interested in some of those products/services.

Using them or loan of some kind, and aren’t currently banking with Stanbic, we’d say it’d be safer to bank with among the other banks we covered in this specific article, as Stanbic doesn’t actually offer any advantages compared to them apart from easier use of their loans/credit-cards in the event that you aren’t interested in a charge card.


Editorial Staff
Editorial Staffhttps://fhsts.com
FHSTS is dedicated to bringing you nothing but the best quality educational information on how to make money online, blogging tips, investment, banking and finance and any other tips to help you make it online.

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